Global Cloud Migration Services Market - Growth, Trends, and Forecast (2018 - 2023)

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Global Cloud Migration Services Market - Growth, Trends, and Forecast (2018 - 2023)

"The global cloud migration service market was valued at USD 3.10 billion in 2017 and is expected to reach a value of USD 9.98 billion by 2023 at a CAGR of 21.50% over the forecast period of 2018u20132023. Reducing operational costs, while increasing IT effectiveness, increasing dependence on cloud, and a growing number of initiatives for BYOD by multiple organizations, is set to boost the growth of the global cloud migration services market.

A large number of enterprises from various industries have started appreciating and adopting advanced technologies. One of the most popular trends amongst these are industries migrating to cloud. Cloud computing encourages enterprises to serve their clients via the internet while offering a flexible and cost-friendly alternative. However, before migrating to cloud, enterprises need to thoroughly analyze and understand the different aspects of cloud migration, such as financial, security, and technical aspects.

Growing Number of Initiatives for BYOD

BYOD is having a significant impact on the enterprises as they realize the advantages in terms of cost saving, productivity, and flexibility. A survey by Cisco reported that 69% of the IT decision makers favor BYOD as an optimistic addition to workplace policy as it saves workers time. Mobile workers account for nearly 90% of the workforce in the United States alone. It offers improved productivity and collaboration by tying geographically distributed offices together, integrates and streamlines communications. With the increasingly creative approaches of businesses towards improving workplace satisfaction and productivity, BYOD helps the employees feel balanced while embracing the technology. According to IBM, more than 80% of the employee’s feel smart-phones will become an integral part of the workplace in the future. This inclination of employees and companies towards BYOD is leading to the growth of the market as it requires cloud migration services.

Professional Services Leads The Market

Migration consulting service providers distinguish between workloads eligible for migration onto a cloud environment, indirectly, saving on resources and expenses before migrating the complete workload. Training services strive to offer various educational programs to mitigate knowledge gaps. The support, training, and maintenance services segment provide customer support abilities to industry verticals in the case of security threats and privacy breaches. As the demand for data security increases, the dependence on cloud also increases, indirectly boosting the growth of the global cloud migration services market.

Asia-Pacific to be the Major Contributor

Cloud migrations services market in the Asia-Pacific is expected to witness rapid growth, owing to the increasing number of SMEs in these region and growing penetration of advanced technologies. The technological development and increasing adoption rate in countries, such as India, China, and South Korea help in the growth of the cloud migration services market in Asia-Pacific. China and India are expected to play a prominent role in the technology, while Japan is expected to see improving penetration over the forecast period.

Key Developments in the Market

• November 2017: IBM acquired Vivant Digital Business to address the growing needs of clients seeking transformation through digital reinvention.
• November 2017: Cisco and INTERPOL agreed to share threat intelligence as a first step in fighting cyber crimes jointly. This alliance is expected to witness two organizations develop a coordinated and focused approach towards sharing data.

The major players include - COGNIZANT TECHNOLOGY SOLUTIONS CORP., TECH MAHINDRA, ACCENTURE PLC, AMAZON WEB SERVICES, MICROSOFT CORPORATION, GOOGLE, INC., CISCO SYSTEMS, INC., WSM INTERNATIONAL LLC, COMPUTER SCIENCES CORPORATION, RACKSPACE HOSTING, INC., RIGHTSCALE, INC., NTT DATA CORPORATION, VMWARE, INC., IBM CORPORATION, NINTEC SYSTEMS LTD, and EVOLVE IP, amongst others.

Reasons to Purchase the Report

• Current and future cloud migration services market outlook in the developed and emerging markets.
• Analyzing various perspectives of the market with the help of Porter’s Five Forces Analysis.
• The segment that is expected to dominate the market.
• Regions that are expected to witness the fastest growth during the forecast period.
• Identify the latest developments, market shares, and strategies employed by the major market players.
• 3-month analyst support along with the Market Estimate sheet (in Excel).

Customization of the Report

• This report can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs."

"1. Introduction

1.1 Key Deliverables of the Study

1.2 Study Assumptions

1.3 Market Definition

1.4 Key Findings of the Study

2. Research Approach and Methodology

3. Executive Summary

4. Market Insights

4.1 Market Overview

4.2 Industry Attractiveness \u2013 Porter's Five Forces Analysis

4.2.1 Bargaining Power of Suppliers

4.2.2 Bargaining Power of Consumers

4.2.3 Threat of New Entrants

4.2.4 Threat of Substitute Products or Services

4.2.5 Competitive Rivalry

4.3 Industry Value Chain Analysis

4.4 Industry Policies

5. Market Dynamics

5.1 Drivers

5.1.1 Increasing Dependence on Cloud

5.1.2 Growing Number of Initiatives for BYOD

5.2 Restraints

5.2.1 Lack of Support for Some Enterprise Services

6. Technology Snapshot

7. Global Cloud Migration Services Segmentation

7.1 By Service Type

7.1.1 Cloud Integration

7.1.2 Professional Services

7.1.3 Managed Services

7.1.4 Application Management and Monitoring

7.1.5 Disaster Recovery

7.1.6 Others

7.2 By Application

7.2.1 Storage Management

7.2.2 Project Management

7.2.3 Others

7.3 By Deployment Mode

7.3.1 Public Cloud

7.3.2 Private Cloud

7.3.3 Hybrid Cloud

7.4 By Enterprise

7.4.1 Small and Medium Enterprises

7.4.2 Large Enterprises

7.5 By End-user Vertical

7.5.1 BFSI

7.5.2 Healthcare

7.5.3 Retail

7.5.4 Government

7.5.5 IT & Telecommunication

7.5.6 Manufacturing

7.5.7 Others

7.6 By Geography

7.6.1 North America

7.6.2 Europe

7.6.3 Asia-Pacific

7.6.4 Middle East and Africa

7.6.5 Latin America

8. Competitive Intelligence \u2013 Company Profiles

8.1 Accenture PLC

8.2 Amazon Web Services

8.3 Cisco Systems, Inc.

8.4 Cognizant Technology Solutions Corp.

8.5 Computer Sciences Corporation

8.6 Evolve IP

8.7 Google, Inc.

8.8 IBM Corporation

8.9 Microsoft Corporation

8.10 NINtec Systems Ltd

8.11 NTT Data Corporation

8.12 Rackspace Hosting, Inc.

8.13 Rightscale, Inc.

8.14 Tech Mahindra

8.15 VMware, Inc.

8.16 WSM International LLC

*List not Exhaustive

9. Investment Analysis

10. Future of the Market"

Global Cloud Migration Services Market - Growth, Trends, and Forecast (2018 - 2023)

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